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To: HereInTheHeartland
So, to meet CRA goals, in some banks, loaning to people with bad credit history became a necessary evil.

I look at Detroit and see the obvious. Record foreclosures in “Red lined” areas, and Jessee Jackson calling the banks “Predators” because they loaned to people with bad credit history.

34 posted on 12/08/2007 6:17:51 AM PST by PA-RIVER
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To: PA-RIVER
Jessee Jackson calling the banks “Predators” because they loaned to people with bad credit

Yes, I saw JJ on TV about a month ago claiming this was a racial "ishya", and that banks were targeting blacks for foreclosure.

So we twisted the banks arms to "stop being racist" and lend to people who are in no financial position to be taking on large loans, and when the crap hits the fan, that too is racist.

There are lower income whites in this mess too, it is NOT racism.

36 posted on 12/08/2007 6:32:49 AM PST by SteamShovel (Global Warming, the New Patriotism)
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